Closing my Selling order with Profits / #37 Profits row
As discussed throughout my September #19 commentary: "My position: I have engaged my Selling order (#1,670.80 as an entry point), Targeting #1,652.80 first, then #1,640.80 extension. I am confident that Selling bias is here to stay and best option is to Sell every local Top that Gold delivers (successfully implementing the model for #4 straight week's)."
I have closed my Selling order (#1,670.80 - #1,655.80) on a fine #15 point Profit run after holding my order for more than #2-consecutive sessions of rollercoaster Price-action. I extended my results range to #37 Profits row and #6 Stop-loss hits regarding April - September cycle and will use this chance to congratulate Traders who followed my call, well done!
Gold's general commentary: Gold reached my personal maximum of #1,682.80 - #1,688.80 as the Price-action didn’t invalidated Daily chart’s healthy Descending Channel and is now testing the Lower Low’s pressure point. However, #1,652.80 is very strong Support as I see strong possibility of Gold testing and breaking it throughout today’s session (after such decline on the Fed aftermath which I anticipated), as Investors, after #4th in a row report announcement which met their estimate, should draw capital from safe-have such as Gold, to more riskier assets - I doubt Gold has more potential to go Higher on Short-term.
Technical analysis: Bond Yields are soaring aswell due to the Fed’s Repurchase Agreements, which are making Low risk assets such as Bond Yields to gain which could add strong pressure on Gold. The current Selling accumulation pattern on Hourly 4 chart is now on total Neutrality but attempting to break towards last week’s Higher Low, DX (# +0.88%) is Bullish as well as the Bond Yields (# +3.47%) are rising with every Hourly candle. Current Fed loan climate is far from Gold friendly as additional Rate tightening will make commodities (Gold especially) to lose even more regarding Medium-term horizon. Price-action was on very cautious sentiment ahead of Fed event as market is not under normal conditions, however Price-action dipped towards my desired values where I managed to close my Selling order with Profit on timely manner.
My position: I have engaged another Selling order (#1,673.80 key entry point), Targeting #1,652.80 mark first, then #1,633.80 in extension. I will keep Selling every rise that Gold makes as my Fed projection and aftermath explanation was spot on.
I have closed my Selling order (#1,670.80 - #1,655.80) on a fine #15 point Profit run after holding my order for more than #2-consecutive sessions of rollercoaster Price-action. I extended my results range to #37 Profits row and #6 Stop-loss hits regarding April - September cycle and will use this chance to congratulate Traders who followed my call, well done!
Gold's general commentary: Gold reached my personal maximum of #1,682.80 - #1,688.80 as the Price-action didn’t invalidated Daily chart’s healthy Descending Channel and is now testing the Lower Low’s pressure point. However, #1,652.80 is very strong Support as I see strong possibility of Gold testing and breaking it throughout today’s session (after such decline on the Fed aftermath which I anticipated), as Investors, after #4th in a row report announcement which met their estimate, should draw capital from safe-have such as Gold, to more riskier assets - I doubt Gold has more potential to go Higher on Short-term.
Technical analysis: Bond Yields are soaring aswell due to the Fed’s Repurchase Agreements, which are making Low risk assets such as Bond Yields to gain which could add strong pressure on Gold. The current Selling accumulation pattern on Hourly 4 chart is now on total Neutrality but attempting to break towards last week’s Higher Low, DX (# +0.88%) is Bullish as well as the Bond Yields (# +3.47%) are rising with every Hourly candle. Current Fed loan climate is far from Gold friendly as additional Rate tightening will make commodities (Gold especially) to lose even more regarding Medium-term horizon. Price-action was on very cautious sentiment ahead of Fed event as market is not under normal conditions, however Price-action dipped towards my desired values where I managed to close my Selling order with Profit on timely manner.
My position: I have engaged another Selling order (#1,673.80 key entry point), Targeting #1,652.80 mark first, then #1,633.80 in extension. I will keep Selling every rise that Gold makes as my Fed projection and aftermath explanation was spot on.
- My official and only Telegram Channel: t.me/goldenBear88
- I do provide professional Gold consulting (signals and financial advice) and Gold Trading school.
- Trading Gold since #2012'.
- I do provide professional Gold consulting (signals and financial advice) and Gold Trading school.
- Trading Gold since #2012'.
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